Nebula Research & Development LLC Acquires 120,965 Shares of Lucid Group, Inc. (NASDAQ:LCID)

Nebula Research & Development LLC increased its stake in Lucid Group, Inc. (NASDAQ:LCID - Free Report) by 134.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,616 shares of the company's stock after purchasing an additional 120,965 shares during the quarter. Nebula Research & Development LLC's holdings in Lucid Group were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Lucid Group in the 4th quarter worth about $780,000. XTX Topco Ltd boosted its holdings in shares of Lucid Group by 395.7% during the fourth quarter. XTX Topco Ltd now owns 849,140 shares of the company's stock worth $2,564,000 after purchasing an additional 677,846 shares during the period. Norges Bank purchased a new position in Lucid Group during the fourth quarter valued at approximately $9,446,000. Nisa Investment Advisors LLC increased its stake in Lucid Group by 4,301.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 255,300 shares of the company's stock valued at $771,000 after buying an additional 249,500 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Lucid Group by 342.7% in the 4th quarter. Renaissance Technologies LLC now owns 16,539,862 shares of the company's stock worth $49,950,000 after buying an additional 12,803,987 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company's stock.

Lucid Group Stock Performance

Shares of Lucid Group stock traded up $0.03 during midday trading on Friday, hitting $2.56. The company had a trading volume of 45,666,356 shares, compared to its average volume of 63,801,708. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. Lucid Group, Inc. has a 1-year low of $1.93 and a 1-year high of $4.43. The business's 50 day simple moving average is $2.35 and its two-hundred day simple moving average is $2.57. The stock has a market cap of $7.75 billion, a PE ratio of -1.90 and a beta of 0.88.

Analyst Ratings Changes

Several brokerages recently issued reports on LCID. Redburn Atlantic lowered Lucid Group from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $3.50 to $1.13 in a report on Monday, February 24th. Morgan Stanley upgraded Lucid Group from an "underweight" rating to an "equal weight" rating and set a $3.00 price target for the company in a report on Tuesday, March 18th. Robert W. Baird increased their price objective on Lucid Group from $2.00 to $3.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Bank of America cut shares of Lucid Group from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $3.00 to $1.00 in a research note on Wednesday, February 26th. Finally, Benchmark reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Lucid Group in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Lucid Group currently has a consensus rating of "Hold" and an average price target of $2.68.

Lucid Group Profile

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.